Maximize Your Income: 5 Strategies for Passive Income Success with David Shaw

Mike Hambright (00:01.595)
Hey everybody, welcome back to the show. I have an amazing show today. I’m talking with David Shaw. He has a ton of experience. Started around the same time as me in 2008 and just a tremendous amount of experience. A cool thing is I was on his podcast yesterday and we’ve become fast friends here, had some great discussions. And so we’re going to kind of continue these discussions. We’re going to be talking about why now is the right time to jump into the market or to lean into your business if you’ve been kind of pulling back a little bit and kind of afraid of what’s going on in the transition. And we both started.

in 2008 when, as I like to say, everybody was running away from the fire and we were running in. So I think there are some analogies. It’s a different market. Don’t get me wrong. But there’s a lot of analogies to where we’re at right now in 2008. And I think between the two of us that have I didn’t know David in 2008, but I assume he had less gray hair than he does now. And I know I did. And so guys like us are the ones you should be listening to, I think. So.

We’re going to tell you why right now is the time to lean into your business harder than ever in this show. So David, so so great to have you here.

David Shaw- Full Cycle Funding (01:06.444)
It’s a pleasure, Mike. Like I say, fast friends, but it’s easy to talk to people who have walked a mile in your shoes, right?

Mike Hambright (01:13.891)
Yeah, yeah. As I like to say, I’ve got a lot of arrow wounds in my back. And so we’re going to expose some of those today and kind of tell you how we got how we got some of these wounds and probably share some lessons. So you have just an amazing background, tons and tons of, you know, you’ve pivoted a lot like you’ve just found ways to kind of ebb and flow. And I think as a real estate entrepreneur, you can’t really be a one legged stool. And I think those are some of the lessons learned that we’re going to talk about today. But tell us, you know, we’re not going to cover it all.

but just give us a few minutes of your background and kind of tell us how you got to today.

David Shaw- Full Cycle Funding (01:48.94)
It’s a very, very kind of standard route into real estate. I’m Irish, I grew up in Dublin after I finished university. I went into construction project management in San Francisco and New York. Really, really disliked my job. I just never really got any satisfaction out of being super busy and getting paid for things I didn’t enjoy doing. And so I started to invest.

I was very, very well paid back in the nineties. I started to invest reasonably heavily in real estate and very transactionally I would invest at Hull for a year or two and sell and stuff like that. So I realized that I enjoyed it. was the only thing really financially I was enjoying. I was always good at saving. was always good at deferring my gratification and whatnot. And so in 2005, I jumped into full-time real estate.

And I joined a company just more for training than anything else. And it’s a company that specialized in buying emerging market properties. This is in Latvia, Lithuania, Poland, East Germany, Montenegro and indeed Argentina and places like that. So my my first foray into real estate was very much international.

And I went out on my own then very quickly thereafter. And in 2008, I’m sitting in Dublin in Ireland and I’m like, where is the opportunity? And I see United States real estate market is burning to the ground. Plus at that time, there’s a massive, massive discount currency wise on the US dollar. And so I kind of trialed a deal. put five houses under, five,

luxury condos in Florida under contract and I put them out to my investors in Dublin. And my investors there would have been Scottish, English, Irish, Swedish, Norwegian, Italian, Spanish, that kind of stuff. That’s all my investors were overseas. I think I sold it in five minutes and I realized I was onto something. I hightailed it into the US real estate market then to find as many distressed

David Shaw- Full Cycle Funding (04:13.934)
and condominium communities as I could find. you know, I did that then I just found just success doing that. And so I did that in from 2008 really until about 2013 until I bought them all up and everyone I could get my hands on. And then I kind of hopped over in 2013, 2014 into fix and flips. And I bought about 800 houses. I fixed them up and flipped them and whatnot.

In doing so, I built up a reasonably decent portfolio for myself and I’ve gotten into various other businesses since then. I’ve evolved from there into private lending and developing and stuff like that. So that’s it in a nutshell, Mike.

Mike Hambright (04:56.815)
Yeah, yeah, short and sweet. So when you were selling these condos, I know you sold them. So how many condos do you reckon you sold during that period?

David Shaw- Full Cycle Funding (05:04.622)
I swear somewhere around 3000. It’s been a while since I got back and looked at it, but around 3000 condos. There’s kind of basic.

Mike Hambright (05:07.309)
Yeah, that’s amazing. And so those folks that were buying them, those international buyers, they were buying them as investments to rent or these were buying them for themselves to use or. Yeah.

David Shaw- Full Cycle Funding (05:18.894)
Investments to rent. Yep. The US dollar at that time had taken a pretty precipitous fall against a basket of other currencies. Canadians were down here buying en masse, Chinese were buying en masse, Europeans were buying en masse. And so these condominium communities that were a lot of more condo conversions that developers were selling to your regular end user here in the United States. Well, during 2008 and 2009, the

FHA, all of their funding and financing for them completely stopped because the HOAs themselves are getting into trouble. And so we would come in and we’d support the HOA and then we’d sell them out in cash to cash buyers. think the first, this is a fun fact, first mortgage deal I ever did in the United States was in 2014 after we’d sold maybe 3000 different deals. So everything was cash for a long time. And that is actually in

It’s funny in an absolute finance, financial or banking crisis, just everything becomes a cash opportunity or not. And so that’s what’s very different about today versus 2008 and nine, where people are predicting a 2008 or nine or 10 or 11 event. I’m like, well, you’d have to take the banks out of the system first. I don’t see the banks going anywhere. And there’s so much private capital in the system now that it’s just, it’s not going back to a cash world.

Mike Hambright (06:45.765)
Right. What are some parallels that you do see? mean, there’s some differences there. What are some parallels you see to that timeframe, that kind of 2008, 2009 timeframe?

David Shaw- Full Cycle Funding (06:55.47)
Rational exuberance before and a soft landing or hard landing. Because remember in 2008 and nine and 10 and 11, it didn’t happen in one year. It just went that like 10 % one year, 11 % the next, 12 % the next, 8 % the next, 6 % the next. wasn’t this, people talk about it like it was just catastrophic thing. And I think as well, one of the big differences back then, what we see now is

Mike Hambright (07:20.271)
Right.

David Shaw- Full Cycle Funding (07:25.506)
The banks back then did not know how to unload distressed unpaid mortgages. I think the mortgage quality is so much better today than it was then, so I just don’t predict as many foreclosures. Even if there was as many foreclosures, I think the banks now are far more versed and confident and competent at managing mass defaults if they were to occur.

I see more dissimilarities than I do similarities. The only similarities I see is human nature. There’s a sense that it was over exuberance. There’s no doubt about it that there was. And there’s a sense that there’s doom and gloom and the world’s going to end. You know, amongst, let’s say, flippers or real estate professionals. Certainly, if you’re a realtor right now, your world, your economy is hurting right now because transactions are gone down.

So you’re feeling a 2008 experience, but the sellers aren’t, and quite frankly, the buyers aren’t there yet either because there’s just capital in the market and there’s not a massive oversupply of highly distressed off-market deals in the foreclosure markets.

Mike Hambright (08:39.653)
Right. And owners have a generally have a fair bit of equity right now as well too, instead of being upside down.

David Shaw- Full Cycle Funding (08:45.41)
That’s right. That’s why I bought a couple of hundred homes in the foreclosure markets. And you see most of them being canceled, you know, after they go through pre-foreclosure or Liz pendants and they get an actual judgment against them. Even then people are acting in their own self-interest and that they’re stalling off that final mortgage sale in the county auction sale because they’re trying to protect that equity. And so you see these cancellations, cancellations, cancellations at the last minute. It’s become very hard.

to try and buy houses in the foreclosure auctions because people are trying to protect that equity exactly to your point. anybody waiting for a 2008 kind of fall, I think they’re going to be hanging around.

Mike Hambright (09:25.615)
Yeah, so we talked about now being the time and it’s not for the reasons we just mentioned because it is a different time. What makes you think that right now is a great time to get into the market where some folks believe that obviously lots of people with lots of opinions, but there’s a lot of folks that are a little timid right now, maybe licking their wounds as well. So what do you think makes this a great time to get started with with all your experience? Well, not get started or really kind of like.

David Shaw- Full Cycle Funding (09:47.982)
It depends on who you’re talking to.

Mike Hambright (09:51.643)
hit the pedal of the metal again for those that active right now that have maybe pulled back a little bit and they’re just waiting for something to happen. Like what is that something that you think is going on that not everybody sees?

David Shaw- Full Cycle Funding (09:59.884)
All right. Okay. I’ve got a question for you then. Who are we talking to? Are we talking to the person who wants to buy their first home? Are we talking to the person who wants to flip their first home or their 77th home? Are we talking to the person who wants to buy and hold? Who are we talking to here, Mike?

Mike Hambright (10:14.373)
Let’s talk to the person here that has flipped a lot of houses and they kind of pulled back over the past couple of years because they were worried about something happening. has probably been down, transaction volume’s been down. And what do you think makes this a good time to basically start ramping back up?

David Shaw- Full Cycle Funding (10:30.264)
it’s a great question. we’re talking to that, if we’re talking to that avatar, it’s quite simply, the high volume flippers that I work with, I’m a private lender here in the Tampa Bay area. work in multiple States. So I’m talking to high volume flippers every day and the people who are successful and who are very, very successfully doing deals right now. they’re following the following guidelines. They’re buying deep. And for the first time in many, many years.

they can buy deep because the wholesalers are finding out. It’s my view that wholesalers have gotten very lazy in the last probably three or four years. They’ve forgotten how to negotiate on their acquisition side. So they’re not actually getting great deals from the market, but they’ve been able to sell them to their active flipper buyers on the other side because of

exuberance, right? If you’re out there hanging around waiting for a great deal to fall off a wholesaler’s wagon right now, I don’t think that that’s the way to go. The people I see thriving right now are going direct to seller. They’re negotiating genuinely good deals. If you get a genuinely good deal, there is so much demand because now here’s where the dispositions are. Days on market are

50 days, 70 days, a hundred days, depending on where you are. But every flipper that I work with, that is getting their properties on the contract in five days, because that’s still possible. It’s not that all deals are like 60 days on market. The bottom line is go out there, buy your property right. Over renovate it. Make sure the curb appeal is amazing. Put in that vinyl fence. Don’t cook corners there. Get in that landscaping, get in and into that home.

bring a designer in at the start of your project, over design your home. If you used to spend 50 grand on your renovation, spend 75 grand on your renovation today, right? Spend that discount that you got on the acquisition side and over, over produce your renovation. Leave you get into the mind of your buyer, leave nothing. So when they, to the imagination. So when they walk through that door, yours is the house that they want to buy and then place your house on the market right there.

David Shaw- Full Cycle Funding (12:57.526)
in the middle to the top of the middle of the comps so that when because most of your competition right now is sellers in, you know, that have been living in the house for 10 years. They’re cutting cord. Very few homes have everything the buyer wants at the right price. So if you go out there right now, over deliver and under price your home, you’re going to sell your home in two minutes. The only way you can do that.

Mike Hambright (13:24.773)
Yeah.

David Shaw- Full Cycle Funding (13:26.976)
is if you buy it right in the first place. And so the people I see doing that are crushing it right now because for the first time in years, guess what? Sellers feel a little bit freaked out. know, your average seller now is like, hmm, you know, the wholesalers are more and more wholesalers are leaving the market than are coming into the market because they don’t know how to get good deals. So get your deal right. Build it right. Price it right. And you can thrive.

Mike Hambright (13:56.027)
That’s great. This is exactly what I did. You know, it was, wouldn’t say that it was a calculated strategy, but it’s in fact exactly what we did 2008, nine, 10, 11, 12. And that frame is, you know, volume was slower. Now I was in Dallas, in hindsight, you know, all I knew was Dallas. in hindsight, not every market in the country was like this. So there was an influx of population even at that time. And, but, and it wasn’t hit as hard as the Florida markets and Vegas and, you know, other Arizona and things like that.

but we just built a better mousetrap. We just put out the best house at not the best price, but we were, what my whole strategy was, how do I get first in line? Because, you know, even if it’s a, if you look at absorption rate of houses, let’s just say you’re in a neighborhood and there’s 15 houses for sale, you don’t have to get in line at the back. You can get in line at the front. And that is if you buy it well, over rehab, put out a better product than anything else that’s out there, and you know, sellers,

Same thing was happening back then. Sellers that are trying to sell the home they lived in now have these emotional ties or they know what they paid for it or it truthfully in their mind, they’re thinking, well, here’s what it was worth a year ago or the last time they had their taxes done. Here’s what they said it was worth, which means nothing, by the way, the tax value. And they just have these, they’re not thinking like a buyer, but you need to think like a buyer, put the best product out at, you know, not necessarily the lowest price, probably not the lowest price, but.

a little bit below some of the competition that’s there, especially if theirs is a little unrealistic, and you’re just next in line. most of the, I mean, we flipped hundreds of houses in 08 to 12, and it was rare that we didn’t have our house under contract in seven days. And people were like, what are you doing? Like, I just, I don’t have all these emotional ties. I’m just building a better mousetrap than everybody else, you know?

David Shaw- Full Cycle Funding (15:45.774)
That’s right. I took a very similar approach. I worked strictly with investors for many, many years. I didn’t go into the retail market at all. I probably sold about four houses in the MLS. I just built the best product for Turkey investors. Now, interest rates are high at the moment. So it’s hard to make the numbers work for an investor. I’m not a big fan of gimmicks. So I think your best exit strategy right now for the foreseeable future is the retail market.

Mike Hambright (15:48.912)
Yeah.

David Shaw- Full Cycle Funding (16:14.58)
I feel strongly about that. And to your point, exactly. The people who are following exactly the advice we just gave, they’re getting more deals than anybody because the amateur flippers and the amateur sellers, they’re departing the market. So it’s time for the pros to get back in and really clean up over the next number of years because there’s enough fear in the market right now that you can buy it right. You can finally buy it right again.

Mike Hambright (16:41.167)
Yeah, yeah, that’s great. So let’s get into some other lessons learned. I we kind of we feel very similarly about where we are in the market right now. What are some other lessons that you’ve learned over time that you want to share with folks that are listening?

David Shaw- Full Cycle Funding (16:54.648)
You’re going to get older. You’re going to get older. You’re going to, you know, if you’re running a full tilt right now, fair play, you know, make that as efficient as possible. I’ve seen over the years, fix and flippers and real estate professionals build out these really big companies, you know, and they spent a lot of time building out these fix and flip companies. I always stayed fairly nimble. And the reason I always stayed fairly nimble is

we’re in real estate and real estate is going to throw nothing but donuts at you for a while and then it’s going to throw gold at you and then it’s going to take it all away and then it’s going to give it all back and it’s just one thing’s for sure it’s completely unsure right and so I always stayed fairly nimble and that I was able to pivot around what was going on in the marketplace and not that I’m going to have this knee-jerk reaction to the market so that’s kind of number one I would say stay fairly nimble and don’t

You know, don’t build a, an immobile ship. Don’t build an oil tanker. You know what I mean? Just stay nimble, stay focused on what it is that you’re doing. That’s number one. Number two, know that you’re going to get older. You know, know that you’re going to evolve as a human being. You’re probably going to evolve into developing at some point in time. Some people will evolve into multifamily investing. Some people will go into developing. And I’ve, I’ve evolved into private lending because

I just, I, you know, the Bruce Lee saying is like, be like water. So water flows straight downhill. If there’s a rock in the way, creates friction. The water is going to go around it. Well, remove those rocks so that remove friction from your life because soon-ish, you’re going to get to a point where maybe you don’t want to do this transactional stuff every day. And you just, you just, you got to, you’re not going to enjoy it anymore. So keep.

as many investment homes as you can. Sell two, keep one. Sell two, keep one. The number one regret all real estate professionals have, and I mean all real estate professionals have, and we were interviewing each other yesterday. We were riffing on this as well. Everybody I have ever met or interviewed in our podcast is like the one regret they have is they didn’t keep enough. always, always know, keep a few every single year, even for tax reasons, but just keep them.

David Shaw- Full Cycle Funding (19:21.866)
And then I would say also is create other streams of income, you know, as you, as you evolve. And for me, that’s been private lending. So I’ve taken a lot of my capital over the years and instead of going out and, and being the flipper, I’m providing capital to the younger generation. And so, you know, that was, that’s been a pivot and an evolution for me. So no one day that, you know, you, you’re going to want to take more time off and prepare for that now. So if you’re.

Absolutely, you know, six in the morning till nine o’clock at night, working, working, working. Definitely put a little bit of your time and energy into your exit strategy because you will want to exit.

Mike Hambright (20:05.733)
Yeah. Now I think, yeah, I talk about this all the time and you know, is that for us, all of us, everybody listening to this too, real estate is a means to an end often, right? It’s like, I want this financial freedom. want, and truthfully what most people eventually want is time freedom, right? That financial freedom can give you time freedom. But if it wasn’t for, you know, my rental portfolio and being able to take,

whether you have a single family or a multi-family or you do something else with it, it basically is cash flowing assets, like something that is generating wealth while you sleep and you don’t have to work anymore. I you have to be using your kind of today money or your today money to build up passive revenue or assets that can generate revenue down the line. And not just for getting older. mean, that’s part of it. We’re all getting older here too, but God forbid something happens to you and your family. If you’re so transactional,

Like what are you leaving to your family, right? There’s no asset for them. There’s no insurance. mean, there might be an insurance policy, but the proverbial insurance policy of the business you built or something that could be sold or something that is generating assets and your family doesn’t even have to sell it or continue to feed your family.

David Shaw- Full Cycle Funding (21:16.322)
It always amazes me when I talk to very successful, let’s say brokers or real estate agents that are driving around fancy cars during the good times. And then they come to me and they’re freaking out. they, you know, David, I haven’t done a transaction in God knows. And it just amazed me like, well, let’s let’s, know, lot of people do come to me and I like, let’s what have you picked up over the years? had a front row seat of real estate. You know, you’ve been working with investors for years.

And they just remain transactional. And then as soon as the transactions stop, they’re snookered completely. They’ve got nowhere to go and they’re freaking out. They’re like being 22 year olds again. And I would say that’s the most uncomfortable conversations I have. be, don’t be so transactional that you don’t, you’re not laying and planting seeds that are going to grow into financial sequoia trees for you because you will want to take time off. And you just mentioned it, you know, financial freedom.

is it’s not the money. if once you’ve once you’ve achieved not having to work, I don’t know if it really makes that much difference if if you have 10 million or 30 million. It’s you know, residual income is financially freeing. And so I take I take every summer off for two months with my kids and I go to somewhere in the world with my kids. My kids have traveled more than most people I know. Right. And I do that.

because I planted those seeds because of my rental portfolio, my lending business. I can do that from wherever in the world I am. And that is what gives me the most pleasure in my life. It’s never, you know, it’s never, I did, I made this much this year or that much. None of that ever mattered. What matters now is that I can, know exactly what my monthly expenses are. And I know exactly how much is coming in passively.

And I think a good goal for our listeners out there is understand carefully exactly what your monthly expenses are and try and achieve two times your monthly expenses passively. Right. And said, if you’ve got to work or not. then from there, if you can get that up to three times, then that’s great. You can pay your expenses, you can go on vacations, but you can continue to invest and you can continue to grow and play the game. But time off and time at my family.

Mike Hambright (23:25.583)
Mm.

David Shaw- Full Cycle Funding (23:41.292)
is way more important than a balance sheet or anything like that.

Mike Hambright (23:47.981)
Mm hmm. Yeah. Well, David, what words of wisdom would you share here? We talked about multiple revenue streams, which I agree with. But I think there’s also some people that get hung up on the number of streams of income without the size of the stream. Right. And so maybe you can share some wisdom on, you know, having multiple streams, but also having a foundation and one or two of those streams that is good enough. And the other things are supplemental, if you will, and not just like a whole bunch of

streams that are all super thin, if that makes sense.

David Shaw- Full Cycle Funding (24:17.474)
Yeah. I see. I see people diversifying for diversification sake all the time. Don’t do that. It’s just two things really, really at the end of the day, have your thing that makes money, have your widget that your flywheel, if you will. Now it could be a W2 job. It could be a business. It could be flipping. They’re all jobs. Owning a business, having a W2 are flipping. They’re just jobs. They’re the things that make you money. Right? Now what you do to make residual money.

Mike Hambright (24:22.681)
Right, right, Yeah.

David Shaw- Full Cycle Funding (24:46.55)
in my world, and I can only speak for myself, is I’ve grown a fairly decent sized real estate portfolio that throws off a good amount of cashflow. Inside that, I do a few short term rentals that kind of juice the returns, if you will, and I lend money privately to other investors. don’t really, you know, I have equities and whatever, they don’t really throw all that much cashflow at me.

So no, I’m fairly focused on what I do. I’m not diversified. I don’t own five small businesses and online businesses and this, that and the other, because they’re all jobs. I try to create passive income and I try and use the word passive. Now, I’m not saying a rental portfolio is completely passive, it’s not, but it’s passive-ish. Lending is not completely passive either, but it’s mostly passive once you’ve originated your loan and whatnot.

And so I’m also playing to my strengths. I’m not diversifying into things I don’t know. which is that’s where you get caught out. So I’d say, no, you don’t need to go super, super broad on this, you know, get good at making money and then get good at putting your money to work. You know, just because you’re good at making money doesn’t confer on you any specialty skills at what you do with money, which is what most of my investors are. Most of my clients are over the years, Mike, they are business owners, doctors.

tech engineers, really good at making money. But that doesn’t give them any proficiency whatsoever at what to do with the money once they’ve made it. And so just because you’re good at making money does not mean that you’re good at keeping it or you’re good at growing it. Those two skills are unrelated. So in terms of creating passive income for me, I have found

Mike Hambright (26:37.445)
Yeah, absolutely.

David Shaw- Full Cycle Funding (26:44.334)
And that private lending is a great place for me and building up my rental portfolio. And has just been a steady eddy and I’m long, I’m long real estate. So anybody out there, you know, getting pissed off because your real estate is not going up in value for the last year or two, you know, you need to broaden out your time horizon, real estate, a real estate portfolio. That’s going to be very rewarding and we’ll give you those rewards over time. And I’m talking over at 20.

25 year period and then they will start to reward your kids and if kids have got good financial education and good background, it’ll start to reward your grandchildren. So take a very long term approach and you’ll be set, you’ll be good.

Mike Hambright (27:30.149)
That’s awesome. David, thanks so much for sharing your story with us today and some lessons learned. I that I’ve learned a lot of those lessons too, and they’re not easy ones, but they do come over time,

David Shaw- Full Cycle Funding (27:40.942)
You know what? It’s, it’s, it’s everything’s hindsight, right? I wish I could put this head on my shoulders. Um, when I was 22 or 23 and I get it, um, I think you have to go through it. I don’t think you can go, I don’t think you can go around it. I don’t think you can go over it or under it. I think you really just got to go through life and, and experience these things. But mostly if you, if you want to

If you want to get around, if you want to fast track your financial journey, get into, get into good groups, surround yourself with people who know what they’re doing, who’ve been down that road, who are a few years older than you, who’ve maybe been through a cycle or two, you know, put yourself around, experience people and pay for that. You know, if you’re, you are not going to get financial education and reliable information from your aunt Loretta, right?

unless I’m already doing stuff. if I’m already, you know, the crossing guard at the local school, don’t look for validation from her. Nothing wrong with her. She actually could be a real estate mogul while she’s doing that. But in general, put yourself around, get yourself in the rooms where people are thinking like this and people are talking like this and they’re having these strategic conversations about.

Mike Hambright (28:49.499)
or no.

David Shaw- Full Cycle Funding (29:01.538)
You know what to do after you’ve been successful, how to keep yourself successful. think too many people are focused on making that first million, are growing to 10 million or whatever. But there is a concept, Mike, we talked about it yesterday called arrival fallacy is that you think if you go, if you, I get to 10 million, they’ll be happy. It doesn’t really work like that. Put yourself around. Yeah. Put yourself around people who will tell you that. And then you will actually realize that it’s, it’s who you’re becoming.

Mike Hambright (29:22.147)
No, not at all.

David Shaw- Full Cycle Funding (29:31.424)
and what you’re becoming is the real value of life. It’s not a numerical figure.

Mike Hambright (29:39.035)
Yeah. And the amazing thing too, when you surround yourself with the right people, it’s just like real estate. There’s this exponential effect on your financial wealth because of, know, if you think about rentals, it’s usually principal pay down, tax benefits, appreciation, all these things. But the same thing happens with your knowledge. Like it’s just, you just hit this inflection point where your knowledge and your wisdom, your ability to navigate risk, like all these things kind of come together.

And that’s why, you know, they say there’s this keep your key earnings years, if you will. Same thing if you have a W-2 job, like eventually your kind of compensation takes off. I would argue it’s exponentially higher as an entrepreneur. If you’ve just played the game enough and you have the wisdom of how to navigate the booby traps and all the changes in the market and stuff like that, and the wisdom of how to…

make money from multiple streams that you were kind of dabbling in any way, just never really took it seriously, is the best years are ahead in your career almost no matter where you’re

David Shaw- Full Cycle Funding (30:45.966)
I agree. I was talking to a lady the other day who was telling me about her father who was an Irish immigrant to the United States. He was still doing deals in his 80s because he just learned. He learned how to do it and he liked it and he enjoyed it. I don’t think people retire from real estate in the sense that they’re one day, I’m going to retire when I’m 65. I’ve never met a real estate investor who’s retired yet. Really what it is is we …

I think real true successful real estate investors, they live it. They keep showing up. know, it is this life. It’s a lifestyle. They built it into their lifestyle. It’s a sustainable life. And so it’s actually not work. And when you get into groups like yours, quite frankly, when you get in and you surround yourself with successful people, they have a very abundant mentality. they are, you’re around people who are not worried about small things. They’re not.

freaking out about small amounts of money. They’re, they’re, they’re, want to, they successful people want to share and they want everyone else to be around everyone else around them. They want them to be successful too. And so all you got to do is just get in there and buy into the lifestyle and understand that it’s a, it’s a 20, 30, 40, 40 year journey that you’re on here. You know, it may as well get in with a good crowd early on in that journey, you know, because you’re not in it to make a million. I’m telling you that. And if

Mike Hambright (32:05.755)
Mm-hmm.

Yeah. Yeah.

David Shaw- Full Cycle Funding (32:14.014)
They’re the people who get out of it quickest. You know, it didn’t meet their expectations. You know, they were just doing it for money. Real estate investing is a lifestyle.

Mike Hambright (32:26.127)
Yeah, for sure. Awesome. Well, David, thanks again for joining us. If folks wanted to connect with you or learn more about you, where can they go?

David Shaw- Full Cycle Funding (32:33.048)
please reach out to me at David at fullcyclefunding.com. That’s David at fullcyclefunding.com. I also have a podcast called Burn Your Boat’s Wealth. If anyone wants to hop over there, hear me more riffing on a little bit. anyone interested in connecting with me directly, it’s David at fullcyclefunding.com and that’s our lending business and I’d love to hear from you.

Mike Hambright (32:59.515)
Awesome, we’ll add some links in the show notes here as well for those of you that are want to learn more. So David, thanks so much for joining us today.

David Shaw- Full Cycle Funding (33:02.734)
Appreciate that.

David Shaw- Full Cycle Funding (33:07.734)
Mike, it’s been my pleasure. You’re a superstar in this business and it’s an honor to know you, quite frankly.

Mike Hambright (33:14.201)
YouTube on it. We’ve done two podcasts in two days, so I don’t know where we go from here, but we’ll figure it out.

David Shaw- Full Cycle Funding (33:20.174)
I’ll see you inside Investor Fuel. How about that?

Mike Hambright (33:24.493)
Yeah, that sounds good. Everybody. Hey, thanks so much for joining us today. I think the key here is hopefully you got a lot of great takeaways. But the key is really to surround yourself with people that have this knowledge that you need. And the interesting thing about our space, I think, is that people like David and myself are so open to freely give it away. Like we just we just want to impact lives. And honestly, we it gives our lives meaning to like we’ve worked really hard to get where we’ve gotten to and to do what we’ve done. And it’d be a shame if we can’t share these things, of course.

We try to share with our families and David and I talked about that on his podcast yesterday. How do we create legacy for our families? But we also just want to share with everybody that’s willing to listen. it’s really crazy how many are not willing to listen, but there’s a lot of wisdom here. So make sure you’re surrounding yourself with, with folks that have a lot of experience that are where you want to go, because they’re probably going to open up and tell you whatever you need to know. So appreciate you all. We’ll see you on the next show.

David Shaw- Full Cycle Funding (34:06.542)
All right.